JPMorgan Chase & Co. Increases Stake in Tyler Technologies, Inc. (NYSE:TYL)

JPMorgan Chase & Co. increased its stake in Tyler Technologies, Inc. (NYSE:TYL) by 1.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 465,866 shares of the technology company’s stock after acquiring an additional 4,397 shares during the period. JPMorgan Chase & Co.’s holdings in Tyler Technologies were worth $268,637,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Tyler Technologies by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company’s stock worth $3,062,190,000 after acquiring an additional 62,420 shares in the last quarter. Geode Capital Management LLC raised its holdings in Tyler Technologies by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock worth $645,585,000 after purchasing an additional 24,284 shares in the last quarter. Franklin Resources Inc. lifted its position in Tyler Technologies by 2.0% during the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock valued at $547,354,000 after buying an additional 17,943 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Tyler Technologies by 1,991.8% during the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after buying an additional 524,259 shares in the last quarter. Finally, Swedbank AB grew its position in shares of Tyler Technologies by 1.7% in the 4th quarter. Swedbank AB now owns 459,850 shares of the technology company’s stock worth $265,168,000 after buying an additional 7,838 shares during the period. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Price Performance

NYSE TYL opened at $579.39 on Monday. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $661.31. The stock has a 50-day moving average of $599.76 and a 200 day moving average of $597.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The company has a market capitalization of $24.98 billion, a price-to-earnings ratio of 95.61, a PEG ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. On average, sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Activity

In related news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the completion of the transaction, the chief financial officer now directly owns 14,026 shares in the company, valued at $8,606,073.08. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,064 shares of company stock valued at $8,688,030 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on TYL shares. Truist Financial reissued a “buy” rating and set a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. DA Davidson reissued a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Barclays raised their price objective on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Wells Fargo & Company reissued an “equal weight” rating and issued a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Finally, StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a report on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $676.25.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.